The forex market is the most liquid market in the world, with a daily turnover of over $5 trillion. It is open 24 hours a day, five days a week, from Sunday at 5 pm EST to Friday at 5 pm EST. However, the forex market is not open uniformly throughout the world. It opens and closes in different time zones, which can be confusing for traders, especially those trading from the Pacific region. This article will explain when forex is open in Pacific times.
The Pacific region is home to several major financial centers, including Sydney, Tokyo, and Singapore. These centers are significant players in the global forex market, with the Australian dollar, Japanese yen, and Singapore dollar all being popular currencies for trading. As such, traders in the Pacific region need to know when the forex market is open in their local time to take advantage of these opportunities.
The forex market operates on a 24-hour cycle, starting with the opening of the Sydney session at 5 pm EST on Sunday. This is equivalent to 7 am Monday in Sydney, Australia, which is the start of the trading week in the Pacific region. The Sydney session is relatively quiet compared to other sessions, with low liquidity and volatility, but it sets the tone for the rest of the week.
The Tokyo session opens at 7 pm EST, two hours after the start of the Sydney session. This is equivalent to 9 am Tuesday in Tokyo, Japan, which is the start of the trading day in the Asian region. The Tokyo session is the most active session in the Pacific region, with high liquidity and volatility, making it an excellent time to trade the Japanese yen.
The Tokyo session overlaps with the London session, which opens at 3 am EST. This overlap occurs between 7 pm and 10 pm EST, making it an excellent time to trade the euro and the British pound. However, this period can be volatile and unpredictable, as traders in both regions are active.
The Pacific region has another major financial center, Singapore, which is home to several international banks and financial institutions. The Singapore session opens at 9 pm EST, four hours after the start of the Tokyo session. This is equivalent to 9 am Monday in Singapore, which is the start of the trading day in Southeast Asia. The Singapore session is relatively quiet compared to other sessions, with low liquidity and volatility, but it is an excellent time to trade the Singapore dollar and other Southeast Asian currencies.
The Pacific region also has an overlap with the New York session, which opens at 8 am EST. This overlap occurs between 5 pm and 7 pm EST, making it an excellent time to trade the US dollar and Canadian dollar. However, this period can be volatile and unpredictable, as traders in both regions are active.
In conclusion, the forex market is open 24 hours a day, five days a week, but it operates in different time zones. Traders in the Pacific region need to know when the forex market is open in their local time to take advantage of trading opportunities. The Sydney and Tokyo sessions are the most active sessions in the Pacific region, with high liquidity and volatility, making them excellent times to trade the Japanese yen and other Asian currencies. The Singapore session is relatively quiet, but it is an excellent time to trade the Singapore dollar and other Southeast Asian currencies. The overlaps with the London and New York sessions are also excellent times to trade specific currencies, but they can be volatile and unpredictable.
